Six projects to build or upgrade roads and bridges will be implemented in Penang this year. Chief Minister Lim Guan Eng said the state had allocated RM32.7mil this year for the projects estimated to cost a total of RM86.3mil. He did not say where the rest of the money would ... Read More

The new year started off on a positive note for Penang homebuyers, says Raine & Horne International Zaki +Partners director Michael Geh. Since the state government announced specific guidelines on Sept 13 last year to encourage the building of affordable houses, there has been “greater advocacy” and more approvals of such projects, Geh ... Read More

More selective measures on loans to the property sector, among others aimed at curbing speculation, could be in the pipeline judging from the strong lending to the industry and continued elevated home prices, according to analysts. Analysts contacted tell StarBizWeek that the property measures will not be hard measures but more likely ... Read More

The Real Estate and Housing Developers' Association Malaysia (Redha) expects property prices to increase by 6.2% once the Goods and Services Tax (GST) kicks in on April 1, due to certain building materials which are taxed under the regime. Residential properties are exempt from GST. "94% of the survey's respondents ... Read More

For those who are interested in affordable housing projects, officers from the state housing department together with PDC will be going to Gurney Plaza this Saturday (21 March) for the ‘Mission: Home-Possible’ road-show, to showcase affordable housing projects, as well as assisting potential buyer to submit their completed application forms. Click ... Read More

The Goods and Services Tax will not be imposed on rentals of commercial units below RM500,000 a year, says Datuk Seri Najib Razak. The prime minister said the government had also decided that supply services for all stratified residential houses would be GST-exempt. He said under subsection 18(2) of the ... Read More

The Penang government has received over 8,000 applications for its affordable housing units priced from RM200,000 to RM400,000. “The response is very encouraging and I urge Penangites to register for them as the chances of being allocated a unit is very high,” said state Housing, Town and Country Planning Committee ... Read More

The two Penang Development Corporation (PDC) affordable housing booths at the Star Property Fair 2015 at the Sunway Carnival Mall and Sunway Convention Centre in Seberang Jaya have seen a long line of visitors. A spokesperson said there was strong interest in the homes located in Teluk Kumbar, Kampung Jawa ... Read More

Until about a year ago, Penang’s south-west district was known as the locality for affordably-priced properties. Since 2008, Ideal Property Group has developed over 4,000 units with a RM3bil gross development value (GDV) there. These include One World, One Residence and Fiera Vista in Bayan Lepas, priced between RM300,000 and ... Read More

The state government wants to work with property developers to cushion the impact of skyrocketing property prices and the slowdown in the property market. Penang Deputy Chief Minister I Datuk Mohd Rashid Hasnon said as one of the most economically important states, Penang was experiencing growth that had impacted the ... Read More